Corporate life is a whirlwind and it’s natural to feel stuck inside the eye of the storm. Even if you did manage to leave, what would you do? I’m here to tell you there IS another way and you have plenty of options.
In this blog, I’m going to explore an option many of my clients haven’t thought about: leveraging your corporate skills to start a career in consulting.
If you’re considering a career change, read on to learn how a consulting career works, whether it’s right for you, and how to make the move out of your corporate job and into the consulting industry.
What is consulting?
Consulting involves offering specific expertise or services to a company without being a permanent employee.
Consultants usually work on a contract basis, bringing in-depth knowledge and skills to the table to help a business through specific projects, needs or challenges.
Benefits of moving from industry to consulting
No need to retrain
You have the necessary skills and experience, eliminating the need to invest time and money in retraining in a brand-new area.
Better work-life balance
Consulting allows you to use the expertise built up throughout your corporate career in a way that provides a better work-life balance, freeing up space for travel, adventure, fun, and family.
Design a lifestyle that aligns with your values
Working in corporate can compromise your personal and professional values, so now is the time to get clear on what you want from life and design a lifestyle that fulfils your dreams. You’re the master of your own destiny now!
Enjoy more variety
Many consultants love the variety of consultancy, enjoying different companies, characters and projects to keep life interesting.
When to make the transition from corporate to consulting
So, how do you know when it’s time to make the leap?
There’s no right or wrong answer, and it’s down to your circumstances. If you’re in a financial position to leave your job before setting up your consultancy business, by all means, go for it.
However, if you need to keep working for a while as you establish yourself as a consultant on the side, this is a viable path as well. Then, you can resign as soon as you’ve built up a few good clients and feel ready to become a consultant full-time.
Read my story of quitting corporate for a simpler life here.
Transferrable skills to take from your corporate experience into your consulting business
The skills you’ve developed thus far in your career are ideal for supporting other individuals and businesses to solve problems and grow.
Consider what you do best in your current role and how you can use this to help others, for example:
- Solving complex problems
- Change management
- Communication
- Leadership development
- Stakeholder management
- Restructuring, mergers and acquisitions
Understanding your USP as a consultant is key to marketing yourself effectively and communicating the value you can add to an organisation.
There are different kinds of consulting to cover all areas of business.
To name a few: business consulting, strategic consulting, management consulting, executive consulting, sales consultant, marketing consultant, financial advisory consultant.
The list really is endless, so whatever your specialist skills are, you can harness them to embark on a new entrepreneurial career path that helps others and builds a life you love in the process.
Setting up a consulting business
If you’ve never been self-employed before, the prospect of setting up your own business may seem daunting. I know because I’ve been there!
However, there’s plenty of advice and support to help you on your way.
Some things to consider when setting up your business:
Niche into a specific area
Niching into a specific area is a powerful way to position yourself as an expert and attract clients to work with you.
Your niche could be a sector, size of business, type of project or client. For example, female C-suite leaders working in finance.
Do your homework
Conduct market research with ideal clients in your chosen niche to determine what their challenges are and how you’re best placed to solve them. This gives you valuable insight to use in your marketing, builds your network and can even open the door to paid work.
Look into training
While it isn’t essential, you may feel you want to enrol onto training courses to build your confidence in certain related areas, like business management, marketing, or coaching.
Decide what to charge
Pricing is one of the key considerations when setting up your own business.
Factors to bear in mind when planning your rates include your seniority, competitor prices, your chosen industry, and what you actually need (and want) to earn to cover your outgoings and make a good profit.
Get support
There’s a world of support out there for small business owners, so explore what kind of assistance you need and where to find it.
Look into coaching, membership communities, free support programmes, funding, mentoring, and professional networks of like-minded women.
Scoring your first client
You may be wondering: how on earth do I actually sign a client?
Here are three methods you could explore to find your first client:
Harness your LinkedIn network
LinkedIn is your best friend for finding the first of many clients for your new venture.
- Start conversations in the DMs with new and old connections
- Arrange virtual and in-person coffee meetings to develop relationships and share what you’re up to
- Post informative content to position yourself as the expert in your niche
- Comment meaningfully on posts shared by key contacts and leading industry voices to increase your visibility and let people know why they need you.
Approach your manager about continuing your role as a consultant
Another option for signing your first client is to approach your existing employer about continuing in your current role on a consultancy basis.
This could allow you to reduce your hours, workload and stress levels, while still maintaining a good relationship and ensuring money keeps coming in as you establish yourself.
Many companies are open to this, as it allows them to retain your expertise without covering sick leave, bonuses or holiday pay. Plus, you can often charge more – so it’s a win-win for everyone.
Attend industry networking events to build new relationships
Networking is a great way to develop relationships and identify new opportunities – look up online and in-person events in your area and specific industry and get clear on your messaging so you can communicate what you do and stand out to potential clients.
Take the first steps on your new career path today
Are you curious about how consulting would work for you? I’d love to be the person to shine a light on all the possibilities open to you and help you start living on your terms.
I’m Joanne Cornish, a corporate accountant turned transformational coach for midlife women contemplating a career change.
I support women in their 40s and 50s to explore career opportunities outside of the corporate world so you can break free and flourish.
It all begins with a free, no-strings-attached discovery call – let’s get yours in the diary.
